RBOI-ARMM projects more investments this year

Cotabato City (January 10, 2018) – The Regional Board of Investments (RBOI) of the Autonomous Region in Muslim Mindanao (ARMM) is projecting higher investment figures for the region this year. Larzon G. Santos, RBOI chief investment specialist, said the agency is set to approve up to P1 billion worth of new projects in the first quarter of the year.

Santos said some of the investors have signified interest in setting up projects that would assist the government’s rehabilitation program for Marawi City. The ARMM government is also exerting efforts to convince private investors who could become partners in rebuilding the country’s only Islamic city.

Last year, RBOI posted P3.2 billion worth of investments led by TierOne Communications International, Inc. TierOne’s project would provide cellular services, broadband connectivity, wireless internet, and public WiFi in the region. The company also offered its service facilities to help in Marawi’s reconstruction.

RBOI officials said the agency is committed to assist in the rehabilitation of Marawi and has organized a site visit for investors on Thursday, January 11, in Lanao del Sur, particularly in the periphery of Marawi City.

The list of proposed projects subject for RBOI’s approval include: cacao plantations, pineapple plantations, banana plantations, and palm oil refinery. The applications for these projects are now being processed.

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